The fear of missing out, or “FOMO” as it’s called on social media, could prove to be a strong motivation for potential home buyers to enter the market quickly as mortgage rates rise. The potential loss of homebuying power may “supercharge the housing market ahead of the spring homebuying season,” says Mark Fleming, chief economist …
Tag: Real Estate
Jan 26
Broomall PA / Delco Home – 58 Sonia Ln, Broomall PA 19008
$325,000 Est. Mortgage $1,775/mo* 3 Beds 3 Baths 1712 Sq. Ft. Description about this home for sale at 58 Sonia Ln, Broomall PA 19008 An incredible opportunity in Broomall, Marple Township! This amazing 3 bedroom 2.5 bath split level home offers amazing square footage and an incredible property. Tons of driveway parking, a huge backyard, …
Jan 26
Fewer Buyers Waiving Contingencies
Home shoppers are showing less willingness to waive appraisals, home inspections, or other contract contingencies during the purchase of a home compared with just a few months ago, according to the December 2021 REALTORS® Confidence Index Survey, a survey of REALTOR® transactions conducted by the National Association of REALTORS®. Nineteen percent of buyers waived the …
Jan 25
Havertown PA / Delco Home –
210 Wickford RdHavertown, PA 19083 Havertown PA / Delco Home – 210 Wickford RdHavertown, PA 19083 $404,900 Est. Mortgage $2,193/mo* 3 Beds 2 Baths 1,292 sqft Description on this home for sale at 210 Wickford Rd, Havertown PA 19083 Welcome to this lovely, charm personified home located in the sought after Chatham Park neighborhood. Come …
Jan 25
Skip the Spouse, Buy the House?
A growing number of single women are moving ahead with a real estate purchase. More than two-thirds of single women recently surveyed said they’d rather not wait until marriage to purchase a home, according to a Bank of America survey that suggested more single females are “skipping the spouse ahead of the house.” Eighty-seven percent …
Jan 25
Home Buyers Taking on Supersized Loans
Applications to purchase new homes remain skewed toward higher-priced homes, the Mortgage Bankers Association reports. The average loan size for a new home soared to a record high last month, reaching $423,102, the MBA reports. That marks an increase from $414,114 in November on new-home loan sizes. Higher sales prices are following higher building costs. …
Jan 24
Can New-Home Starts Maintain 2021 Highs?
Builders ramped up construction on new homes last year as buyers eagerly sought more housing options. Single-family housing starts jumped 13.4% in 2021 compared to 2020, the Commerce Department reported Wednesday. But builders say supply-side challenges pose challenges to keeping that pace in 2022. In December, builders pointed to supply challenges as the main culprit …
Jan 24
Kitchen Pantries a Sought-After Amenity
The kitchen pantry has become a craved amenity in more homes today. They may be worthy of your attention if staging the space in a home listing. Larger, more functional pantries are a popular add-on in home remodels, according to the latest trends study released by the National Kitchen & Bath Association. Sixty percent of …
Jan 20
Buyers May Find Opening With Mortgage Credit
Buyers May Find Opening With Mortgage Credit Mortgage credit availability loosened in December, even as house hunters continue to face higher prices that are hampering affordability, according to the Mortgage Bankers Association. MBA’s Mortgage Credit Availability Index posted its highest reading since May 2021. However, credit availability is still 30% below pre-pandemic levels. “Credit …
Jan 19
Media PA / Delaware County Home – 910 Palmers Mill Rd Media, PA 19063
Media PA / Delaware County Home – 910 Palmers Mill Rd Media, PA 19063 $769,000 Est. Mortgage $4,135/mo* 4 Beds 3 Baths 2005 Sq. Ft. Description about this home for sale at 910 Palmers Mill Rd Media, PA 19063 Quick Delivery Home! Move into this new home by early Spring 2022 or sooner. Welcome to …
Jan 19
HUD Gives Early Chance to Owner-Occupant Buyers
HUD Gives Early Chance to Owner-Occupant Buyers The Federal Housing Administration doubled its exclusive listing period on certain HUD single-family and real estate-owned homes that will give owner-occupant buyers more time to bid on the properties ahead of investor competition. HUD-approved nonprofit organizations and government entities also will be able to submit bids to …
Jan 19
‘Foreclosure Tsunami’ Fears Unfounded
‘Foreclosure Tsunami’ Fears Unfounded With moratoriums in place, foreclosures were nearly non-existent last year. Even as pandemic protections have lifted, a foreclosure wave—which was an industry concern—has not occurred. “The COVID-19 foreclosure tsunami that some people had anticipated is clearly not happening,” says Rick Sharga, executive vice president at RealtyTrac, an ATTOM company. “Government …
